This is an ongoing business and is not new, therefore you have no opening entry, start recording
the daily transactions on November 15, then change to November 16
General Journal - Exercise 16 (b, c and d), pages 147and 149-153
Page #26
Date-2013
Account

Notes for Unit 8 Review Source Documents
For every transaction you record in the journal, you must have a numbered source
document in your files to back up the transaction. These documents are normally
prenumbered. If you are audited by CRA (Canadian Reve

Analyzing Balance Sheet Accounts
Directions-using page 58, Exercise 13 in your textbook complete the following
a. Place the beginning balances in each account
b. Record the October transactions in the General Ledger -in the T - accounts
c. Create a formul

Chapter 1/Unit 1 Test, Period 1
Prepare a Balance Sheet for the business Olynyk Enterprises using
accepted accounting terminology and procedures.
Place all accounts in proper order, do not stretch columns.
Use the following information to prepare the Bala

Name _
Chapter 2/Unit 3 Review Sheet 3/Recording Transactions in T-Accounts
Answer or complete the following.
1. (a) A place to record changes caused by transactions is an _.
(b) The left side of a T-account is the _ side.
(c) The right side of a T-accoun

a. Use the following blank transaction analysis sheet to record the 7 transactions for Goldman's Gym in July.
running balance after each transaction. Compare your completed assignments with the textbook, page 19.
If you are in balance, prepare a new balan

Chapter 1/Unit 1
Review Sheet 1/Financial Position
Answer or complete the following.
1. (a) A financial statement that lists assets, liabilities, and owners equity as of a
specific date is
called a(n) _
(b) Items of value owned by a business are called _

GAPP: Generally Accepted Accounting Principle
Principles of Accounting
1.
2.
3.
4.
5.
Consistency: It should be clear
Order of Liquidity: The order of assets in balance sheet.
Date of Maturity: The order of liabilities in balance sheet.
Business Entity:
C

FINANCIAL MANAGEMENT 10
Deductions from Paycheque Spreadsheet assignment #1
A payroll register is a business form on which all payroll information is recorded for a
particular business. In many businesses the payroll register is a spreadsheet that is made

Assignment 1 - Complete the Income Statement for Dr. Julie Summers for December 31, 2012
In your textbook Exercise 3, page 74
Dr. Julie Summers
Income Statement
For the year ended, December 31, 2012
Revenue:
Income from Fees
Investment Income
Total Revenu

Assignment 1
Textbook pages 51-52
Exercise 1b and 3b Place the amounts in the debit or credit col. You do not have to put in the dates.
3c.Create a formula to find the new ending balance for each account.
bold beginning and ending balances, if the account